New Technologies: End of Work or Structural Change?

Rademakers Emilie () and Ulrich Zierahn-Weilage
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Rademakers Emilie: 8125 Utrecht University , Utrecht, The Netherlands

The Economists' Voice, 2024, vol. 21, issue 2, 335-344

Abstract: This paper examines the impact of new technologies, particularly automation and artificial intelligence (AI), on labor markets. The existing literature documents ambiguous and only limited overall employment effects, while new technologies induce significant shifts in workforce composition. The implied firm-level productivity gains primarily benefit larger, skilled-labor-intensive firms. AI adoption remains limited but continues to reshape skill demands. The implied worker reallocation is costly, exacerbating inequality. This calls for policies such as targeted support for displaced workers, investment in education and skill development, promoting technology diffusion, and encouraging complementary human capital investments.

Keywords: inequality; unemployment; digitalization; artificial intelligence; technology (search for similar items in EconPapers)
JEL-codes: J21 J24 J31 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1515/ev-2024-0046

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